To James Brown
Philadelp[hia 13 Nov. 1791]
I have duly recieved your [… ] with the extracts of Mr. Short’s letter[s] [. . . .] might be advantageous to transfer his pap[er] […] impossible to ask the opinion of a perso[n] [. . . .] However, after having consulted with thos[e] […] made up an opinion on the subject. Th[…] [advan]tageous to have been an original subscriber to […] the commerce in that stock has now brought […] real value, if they rightly conjecture the future […] which it’s paper may have. If the circulation sho[uld] […] will be gain; if less, there will be loss; and I confess I […] so possible, that I rather believe bank stock will [. . . .] I observe too that Mr. Short’s idea was to subscribe at […] price, and that he was not disposed to purchase at an […] price. This therefore makes me the rather conclude […] would not be adviseable to do it. I am with great esteem Dear Sir your most obedt. humble servt
PrC (DLC: TJ Papers, 69: 11955); at foot of text: “Mr. James Brown”; right margin mutilated, with last part of each line in body of text torn away, ranging from six to eight words at head of text to one or two words at foot of text; date established by SJL and Brown’s reply of 4 Dec. 1791.
In letters to TJ of 21 and 31 Oct. 1791, Brown had enclosed Extracts of Mr. Short’s correspondence about the possible purchase of stock in the Bank of the United States.